Increased pre-funding for EU-sponsored projects

Prime Minister Emil Boc on Tuesday said that the inter- ministerial board on EU fund management decided to increase pre-funding for EU-sponsored projects from 20 percent to 30 percent of the project’s worth.
‘Pre-funding for European project was first increased from 15 percent to 20 percent and today the board decided to further increase it to 30 percent,’ said Boc.
He added that the measure was taken in order to secure better absorption of European funds and increase the amount of cash available for the economy to be used for paying for works carried out on European grants.
Boc said he warned the chairs of the development regions and all the European fund users that the pre-funding increased to 30 percent will be granted only if the job is properly done.
‘That means tenders have to be held in time, works started off and bills paid. We will not transfer the money to the accounts of the local administrations only for the sake of it being there; the money will be transferred if it is actually paid out and the works are conducted on the European funds at our disposal,’ Boc explained.
He mentioned the new decision will also solve the issue of outstanding Value-Added Taxes (VATs) the local public administration have to refund.
‘By increasing pre-funding from 20 to 30 percent we offer the local administrations the possibility of having an easier time refunding the VAT, thus sparing the local budgets and making life easier for the local administrations,’ said Boc.

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